Former IFA favourite Perpetual is set for a barren end of year Isa season following another year of poor performance.
The fund manager missed out on last year's final Pep season rush because of bad performance in 1998.
But with more than half of its 21 funds coming in the bottom half of their sector in the year to December 31 sales experts expect sales to plummet in the run up to April.
And analysts believe poor sales figures in the second half of the year could see its share price diving, making it susceptible to a take-over bid.
The fund managers flagship UK growth fund has been particulary bad hit. Its “value” investment style has seen it miss out on the technology and telecoms stock boom.
According to Standard & Poor's Micropal, the UK growth fund is ranked 253 out of 257 funds over the 12 months to January 1 2000, up just 3 per cent against the sector average of 21 per cent.
Its European fund and Income fund also suffered being ranked 70 out of 96 and 69 out of 87 respectively.
Hargreaves Lansdown head of research Mark Dampier says: “Perpetual got blown away in the last quarter. I think they are in for a really awful Isa season again.”